Key Takeaways
- Following a surprise ‘quit’ announcement by Anton Nell and Yearn Finance (YFI) founder Andre Cronje, both YFI and FTM have collapsed by about 13% and 15%, respectively. Meanwhile, the native token of Solidly Exchange (SOLID), a recent DeFi protocol launched by the same founder, has dove for 60%, despite gaining a TVL of $2.24 billion within days from launch.
- Convex Finance (CVX) price dropped due to forced tokens unlocked for contract redeployment after a non-critical bug was found in its contracts. Despite this, users’ deposits remain safe, as reported by the Convex’s team.
- Osmosis (OSMO), the first decentralised exchange servicing blockchains connected by Cosmos’s Inter-Blockchain Communication protocol, has launched a new staking methodology, superfluid staking.
- This week’s price and volatility indices were negative at -6.92% and -51.82%, respectively, whereas volume index was +13.01%.
Highlights
- Uniswap builds interface to swap altcoins into ETH donations for Ukraine
- 327,000 ETHs leave exchanges in last 7 days as price of Ethereum rises
- Anchor’s TVL surges to all time high of $11.7B after Luna Foundation refills reserves
- Circle delays its DeFi API product, citing need for regulatory guidance
- REN price gains 65% after Catalog launch brings a cross-chain DEX to its blockchain
- DeFi blue chips slide 80% since 2021 as new generation rises
- A16Z invested in Lido, a liquid staking solution for Ethereum
- A merger proposal was initiated to merge Redacted and Lobis, the subDAOs of OlympusDAO
Check the latest prices on Crypto.com/Price
Top Token Metrics
| Metrics | Top 20 DeFi tokens market cap | Top 100 DeFi tokens market cap | DeFi dominance* vs. all crypto |
|---|---|---|---|
| Current | $83.03B | $104.24B | 6.07% |
| 7-Day Change | +1.90% | +1.02% | +0.01 p.p. |
| 14-Day Change | +10.96% | +5.89% | +0.40 p.p. |
| Metrics | Current |
|---|---|
| Top 20 DeFi tokens market cap | $83.03B |
| Top 100 DeFi tokens market cap | $104.24B |
| DeFi dominance* vs. all crypto | 6.07% |
| Metrics | 7-Day Change |
| Top 20 DeFi tokens market cap | +1.90% |
| Top 100 DeFi tokens market cap | +1.02% |
| DeFi dominance* vs. all crypto | +0.01 p.p. |
| Metrics | 14-Day Change |
| Top 20 DeFi tokens market cap | +10.96% |
| Top 100 DeFi tokens market cap | +5.89% |
| DeFi dominance* vs. all crypto | +0.40 p.p. |
Source: CoinGecko
DeFi Index Tokens
| Metrics | Price | Volume | Volatility |
|---|---|---|---|
| Top Gainers | UMA (+80.24%) | UMA (+1826.15%) REN (+70.30%) YFI (+19.02%) | UMA (+882.11%) |
| Top Losers | AAVE (-15.43%) UNI (-12.56%) COMP (-9.76%) | NXM (-63.22%) LRC (-19.72%) LINK (-19.00%) | UNI (-60.21%) AAVE (-60.12%) LINK (-57.45%) |
| Metrics | Top Gainers |
|---|---|
| Price | UMA (+80.24%) |
| Volume | UMA (+1826.15%) REN (+70.30%) YFI (+19.02%) |
| Volatility | UMA (+882.11%) |
| Metrics | Top Losers |
| Price | AAVE (-15.43%) UNI (-12.56%) COMP (-9.76%) |
| Volume | NXM (-63.22%) LRC (-19.72%) LINK (-19.00%) |
| Volatility | UNI (-60.21%) AAVE (-60.12%) LINK (-57.45%) |
Notable Events
The increase in UMA Protocol (UMA) last week was likely driven by the announcement of partnership with DappBack to create a Web3 task page and the reportedly surged adoption of its Across protocol.
DEX Metrics
| Metrics | Market Cap (Native Coin) | 7-Day Change* | TVL | 7-Day Change* | Native Coin Mcap / TVL | 7-Day Avg. Daily Volume | 7-Day Change* | Avg. Daily Volume / TVL |
|---|---|---|---|---|---|---|---|---|
| Uniswap Ethereum | $3.82B | -8.22% | $7.53B | -1.11% | 0.51x | $2.02B | -15.21% | 0.53x |
| Sushi Multi-chain | $554.78M | -0.96% | $3.99B | -17.35% | 0.14x | $200.10M | -12.53% | 0.36x |
| Curve Finance Ethereum | $801.69M | 2.57% | $17.74B | 1.08% | 0.05x | $223.52M | -10.24% | 0.28x |
| Pancake BSC | $1.66B | -0.12% | $4.17B | -2.49% | 0.39x | $362.54M | -25.44% | 0.22x |
| Spookyswap Fantom | $128.86M | -9.65% | $827.21M | -15.16% | 0.15x | $327.06M | -14.02% | 2.54x |
| Raydium Solana | $218.23M | 7.16% | $584.14M | -5.43% | 0.37x | $58.08M | -25.39% | 0.27x |
| Trader Joe Avalanche | $185.45M | 5.35% | $1.43B | -1.65% | 0.13x | $224.13M | 5.78% | 1.21x |
| VVS Finance Cronos | $254.26M | 10.98% | $1.24B | -1.05% | 0.20x | $3.43M | -7.76% | 0.01x |
| Metrics | Uniswap Ethereum |
|---|---|
| Market Cap (Native Coin) | $3.82B |
| 7-Day Change* | -8.22% |
| TVL | $7.53B |
| 7-Day Change* | -1.11% |
| Native Coin Mcap / TVL | 0.51x |
| 7-Day Avg. Daily Volume | $2.02B |
| 7-Day Change* | -15.21% |
| Avg. Daily Volume / TVL | 0.53x |
| Metrics | Sushi Multi-chain |
| Market Cap (Native Coin) | $554.78M |
| 7-Day Change* | -0.96% |
| TVL | $3.99B |
| 7-Day Change* | -17.35% |
| Native Coin Mcap / TVL | 0.14x |
| 7-Day Avg. Daily Volume | $200.10M |
| 7-Day Change* | -12.53% |
| Avg. Daily Volume / TVL | 0.36x |
| Metrics | Curve Finance Ethereum |
| Market Cap (Native Coin) | $801.69M |
| 7-Day Change* | 2.57% |
| TVL | $17.74B |
| 7-Day Change* | 1.08% |
| Native Coin Mcap / TVL | 0.05x |
| 7-Day Avg. Daily Volume | $223.52M |
| 7-Day Change* | -10.24% |
| Avg. Daily Volume / TVL | 0.28x |
| Metrics | Pancake BSC |
| Market Cap (Native Coin) | $1.66B |
| 7-Day Change* | -0.12% |
| TVL | $4.17B |
| 7-Day Change* | -2.49% |
| Native Coin Mcap / TVL | 0.39x |
| 7-Day Avg. Daily Volume | $362.54M |
| 7-Day Change* | -25.44% |
| Avg. Daily Volume / TVL | 0.22x |
| Metrics | Spookyswap Fantom |
| Market Cap (Native Coin) | $128.86M |
| 7-Day Change* | -9.65% |
| TVL | $827.21M |
| 7-Day Change* | -15.16% |
| Native Coin Mcap / TVL | 0.15x |
| 7-Day Avg. Daily Volume | $327.06M |
| 7-Day Change* | -14.02% |
| Avg. Daily Volume / TVL | 2.54x |
| Metrics | Raydium Solana |
| Market Cap (Native Coin) | $218.23M |
| 7-Day Change* | 7.16% |
| TVL | $584.14M |
| 7-Day Change* | -5.43% |
| Native Coin Mcap / TVL | 0.37x |
| 7-Day Avg. Daily Volume | $58.08M |
| 7-Day Change* | -25.39% |
| Avg. Daily Volume / TVL | 0.27x |
| Metrics | Trader Joe Avalanche |
| Market Cap (Native Coin) | $185.45M |
| 7-Day Change* | 5.35% |
| TVL | $1.43B |
| 7-Day Change* | -1.65% |
| Native Coin Mcap / TVL | 0.13x |
| 7-Day Avg. Daily Volume | $224.13M |
| 7-Day Change* | 5.78% |
| Avg. Daily Volume / TVL | 1.21x |
| Metrics | VVS Finance Cronos |
| Market Cap (Native Coin) | $254.26M |
| 7-Day Change* | 10.98% |
| TVL | $1.24B |
| 7-Day Change* | -1.05% |
| Native Coin Mcap / TVL | 0.20x |
| 7-Day Avg. Daily Volume | $3.43M |
| 7-Day Change* | -7.76% |
| Avg. Daily Volume / TVL | 0.01x |
Source: CoinGecko, DeFi Llama, Nomics
Notable Events
- Fantom’s leading DEX, SpookySwap (BOO) saw decline in all metrics due to the price drop of FTM coin after the announcement of Anton Nell and Andre Cronje regarding ‘quiting DeFi’. Both of them were prolific developers in Fantom Foundation.
